Hi
I have a VW Touareg 3.2 V6 and wish to part exchange it for another 4x4 with a smaller engine. I believe that my VW may be valued around £14000 and I am interested in purchasing a Honda CRV 2.0.
I still have around £11K on finance for the VW but the Honda I wish to purchase is only £10K - would the dealership partexchange my vehicle for another of lesser value? Or would they only be interested in a vehicle with the same outstanding amount on finance so that this can be transferred to their finance?
Would appreciate your advice - and yes I have consider selling privately but had a very bad experience before so would not want to go down that route again.
Thanks
Hi
This must be a 2003 Touareg, with about 50,000 average miles. If so, your price estimate is about right, but you might have to take £500 off, or there won't be enough in it for the two dealers (the Honda garage you are buying from and the Volkswagen dealer they will pass it to very quickly).
So in an ideal world you would like to swap cars and leave with a cheque for the balance of £3,000? Tricky, but it can be done.
The dealer is going to try and persuade you to spend at least the £11,000 on the new car, I would guess. So just be firm about that.
Then they (I'm assuming that you are buying from a Honda garage) are going to ring round Volkswagen garages and see if they can pass the car on easily.
I think you should phone a VW dealer or two in advance, tell them what you are doing and see what they will offer if another garage calls them.
Then go to the Honda garage and agree the price on the CRV, finally ask for an offer on Touareg. A dealer group who have both Honda and VW garages may be best - try Alan Day garages.
They should be able to give you a cheque for £2,500 ish on the day you take delivery of the CRV.